Two other concessions, West El-Tabya and Northwest Sapphire, are expected to be retendered at a later date after failing to attract sufficient interest in EGAS’ earlier April bid round. Four exploration agreements have been signed for the other blocks on offer (MEED 30:7:04).

Bids are also due on 28 September for 18 new exploration blocks being tendered by state-owned Egyptian General Petroleum Corporation (EGPC). The concessions on offer are located in the Nile Delta region, the Western Desert and the Gulf of Suez, and cover a total area of 30,804 square kilometres.

Under the terms of local production sharing agreements, companies have the option to take up a 20-year development lease after the first discovery of hydrocarbons, with an option to extend for additional five-year periods.